Charles River Labs Reports Third-Quarter 2024 Financial Results

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reported a slight decrease in third-quarter 2024 revenue to $1.01 billion, down 1.6% from the previous year. The company's GAAP earnings per share were $1.33, a 21.3% decrease from the same period in 2023. Non-GAAP earnings per share were $2.59, reflecting a 4.8% decrease. The company updated its 2024 guidance, expecting revenue growth between -3.0% and -2.0%, and non-GAAP earnings per share between $10.10 and $10.30. The company repurchased 500,000 shares for $100.7 million in the third quarter, leaving $899.3 million remaining on its $1.0 billion stock repurchase authorization.

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About Charles River Laboratories International, Inc.

Charles River Laboratories International, Inc. provides essential services to the pharmaceutical, biotechnology, and life sciences industries. The company specializes in preclinical and clinical lab services, offering clients a comprehensive suite of drug discovery and development services that expedite the process of getting new drugs and therapies to the market. Notably, Charles River's facilities offer expertise in the fields of oncology, immunology, and neuroscience, making it a critical partner for companies working in these therapeutic areas. The firm operates globally, enhancing its customers' ability to operate internationally through its wide network of laboratories and testing facilities. By enabling more efficient drug development cycles and reducing the time to market for new therapies, Charles River Laboratories plays a crucial role in the advancement of medical science and patient care worldwide. The company's commitment to high standards of animal welfare and ethical practices further underscores its reputation as a leader in quality and reliability within the research community.